Mobile banking and the pursuit of financial inclusion in the age of leaving no one behind

Abstract

The pursuit for financial inclusion has emerged as an important component of strategic global development, with focus on reducing poverty, promoting economic growth, and attaining equitable access to resources. In particular, mobile banking has become a critical tool in promoting financial inclusion, especially in low- and middle-income countries where traditional banking infrastructure is often limited. With emphasis on the importance of inclusive growth and ensuring that marginalized populations are not excluded from financial systems, United Nations' Sustainable Development Goals (SDGs) introduced the concept of "leaving no one behind” (UN, 2022). In this milieu, mobile banking provides an innovative solution to bridge the financial services gap, offering a way for unbanked and underbanked individuals to access a range of financial services, including savings, loans, and payments.